GBPCAD Probability of bounce
Hello there.
Rejections are here. Bullish they are. Formed the Low of the Year (aka low of the month) we have. Now, after a nice daily candle close and a bullish indecision on Weekly, we might be prepared to exhaust a little bit of all this downward movement and finally head north.
For a Swing Trade, I'd look for a SL around the LY and a minimum take profit area around the 3.9:1 RR ratio.
Fundamentals are backing us up when we say that a brighter future may be there for England (and therefore GBP) considering the most likely next prime minister of the UK, not to mention what CAD is facing those days. Mind that we have the chinese GDP in a couple hours and retail sales data for the GBP.
Rejections are here. Bullish they are. Formed the Low of the Year (aka low of the month) we have. Now, after a nice daily candle close and a bullish indecision on Weekly, we might be prepared to exhaust a little bit of all this downward movement and finally head north.
For a Swing Trade, I'd look for a SL around the LY and a minimum take profit area around the 3.9:1 RR ratio.
Fundamentals are backing us up when we say that a brighter future may be there for England (and therefore GBP) considering the most likely next prime minister of the UK, not to mention what CAD is facing those days. Mind that we have the chinese GDP in a couple hours and retail sales data for the GBP.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.